BeiGene (NASDAQ:BGNE) Shares Gap Down – What’s Next?

BeiGene, Ltd. (NASDAQ:BGNE)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $193.29, but opened at $187.79. BeiGene shares last traded at $187.03, with a volume of 31,286 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JMP Securities initiated coverage on shares of BeiGene in a research report on Wednesday, September 18th. They set a “market outperform” rating and a $288.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on BeiGene from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded BeiGene from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Cowen upped their target price on BeiGene from $254.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup raised their target price on BeiGene from $269.00 to $288.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, BeiGene has an average rating of “Moderate Buy” and a consensus target price of $247.07.

BeiGene Stock Performance

The company has a current ratio of 1.93, a quick ratio of 1.75 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of -22.96 and a beta of 0.63. The stock has a fifty day moving average price of $212.91 and a 200-day moving average price of $182.03.

BeiGene (NASDAQ:BGNE) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $983.26 million. BeiGene had a negative return on equity of 25.12% and a negative net margin of 25.94%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 earnings per share. As a group, analysts anticipate that BeiGene, Ltd. will post -5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Xiaobin Wu sold 5,556 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $189.65, for a total transaction of $1,053,695.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Titus B. Ball sold 137 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $189.94, for a total value of $26,021.78. The disclosure for this sale can be found here. Insiders sold 23,070 shares of company stock worth $4,901,050 in the last quarter. 7.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BGNE. Blue Trust Inc. grew its holdings in BeiGene by 156.3% during the 3rd quarter. Blue Trust Inc. now owns 123 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of BeiGene during the third quarter worth approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BeiGene during the third quarter worth approximately $67,000. SG Americas Securities LLC bought a new stake in shares of BeiGene during the third quarter valued at approximately $105,000. Finally, PFG Investments LLC acquired a new stake in shares of BeiGene in the third quarter valued at approximately $210,000. 48.55% of the stock is owned by institutional investors.

About BeiGene

BeiGene, Ltd., through its subsidiaries, engages in the development and commercialization of oncology medicines worldwide. Its products include BRUKINSA to treat various blood cancers; TEVIMBRA to treat various solid tumor and blood cancers; PARTRUVIX for the treatment of various solid tumor malignancies; XGEVA to treat bone metastases from solid tumors and multiple myeloma, as well as giant cell tumor of bone; BLINCYTO to treat acute lymphoblastic leukemia; KYPROLIS to treat R/R multiple myeloma; REVLIMID to treat multiple myeloma; VIDAZA to treat myelodysplastic syndromes, chronic myelomonocyte leukemia, and acute myeloid leukemia; SYLVANT to treat idiopathic multicentric castleman disease; QARZIBA to treat neuroblastoma; POBEVCY to treat metastatic colorectal cancer, liver cancer, and non-small cell lung cancer (NSCLC); BAITUOWEI, to treat breast and prostate cancers; TAFINLAR and MEKINIST to treat NSCLC and melanoma; VOTRIENT for advance renal cell carcinoma; AFINITOR for advance renal cell carcinoma, NET, SEGA, & breast cancers; and ZYKADIA to treat ALK + NSCLC.